Long-term financing of local projects discussed during EIB delegation’s visit to Haiti

A delegation of the European Investment Bank (EIB), led by Pim van Ballekom, EIB Vice-President with responsibility for operations in the Caribbean region, is visiting Haiti following the appointment of a new government in order to explore ways of financing investment projects in the country.

In his first visit to the country, Vice-President van Ballekom and his colleagues discussed financing possibilities with the Haitian authorities, notably President Jovenel Moïse, the governor of the central bank Jean Baden Dubois, and government ministers, with a view to providing loans for projects in the months ahead. The EIB has long supported investments that are key to the growth of the public and private sectors in Haiti and the wider Caribbean region.

During his visit, Vice-President van Ballekom met with the beneficiaries of EIB loans granted via local financial intermediaries and discussed the possibility of financing new projects in the country. This visit will be followed by a trip to the Turks and Caicos Islands, where the EIB will announce new regional support for climate action projects during the 47^th annual meeting of the Board of Governors of the Caribbean Development Bank.          

EIB Vice-President Pim van Ballekom said: "During my first visit to Haiti, we have had fruitful discussions on the future support that we will provide to projects in the country’s public and private sectors. Given our extensive sectoral experience in support of projects around the world, we are able to bring technical and practical expertise to Haiti and the wider Caribbean region. The first EIB loans in Haiti date back to 1995 and we hope to continue financing projects, especially in the areas of basic infrastructure (e.g. energy, water, sanitation and transport), climate action and small business support throughout the country."

Vincent Degert, Ambassador of the European Union, commented "One of the strengths of European aid is to target the most vulnerable and marginalised categories of the Haitian population. Indeed, under this agreement women and small entrepreneurs in rural areas will be able to benefit from the funds that have so far been lacking in order to be able to first recapitalise and then build up small-scale business structures that will enable them to acquire a minimum of financial autonomy and to take care of their families. This fits perfectly with our approach to cooperation, which aims to strengthen the resilience of the most vulnerable population groups while improving their prospects for the future."

The EIB is the world’s leading multilateral public finance provider. 10% of its loans support investment outside the European Union. Its direct shareholders are the 28 EU Member States.

The EIB has already invested HTG 126.2 billion (EUR 1.6 billion) in the form of loans and equity investments in support of development and economic activity in the Caribbean. In Haiti, it has granted a total of HTG 1.2 billion (EUR 16 million) in support of four private sector development projects (SMEs).

The EIB also granted HTG 45 million (EUR 600 000) worth of non-repayable aid in support of the Nap Kenbe (“Stay Well” in creole) modular surgical hospital in Tabarre, Port-au-Prince, the Haitian capital, following the earthquake in 2010. Last year, in response to the devastation caused by Hurricane Matthew, the most powerful hurricane in the Caribbean for 10 years, the EIB Institute, the EIB Group’s staff and the EIB itself donated HTG 19 million (EUR 250 000 EUR) to six charities working to rebuild Haiti.